Cisco Systems, Inc. (CSCO) Position Lowered by BARING ASSET MANAGEMENT Ltd
BARING ASSET MANAGEMENT Ltd lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 51.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,271 shares of the network equipment provider’s stock after selling 20,445 shares during the quarter. BARING ASSET MANAGEMENT Ltd’s holdings in Cisco Systems were worth $603,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eads & Heald Investment Counsel increased its stake in Cisco Systems by 15.7% during the 2nd quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock valued at $1,329,000 after purchasing an additional 5,765 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Cisco Systems by 10.4% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock valued at $4,789,000 after acquiring an additional 14,395 shares during the last quarter. Washington Trust Bank boosted its holdings in shares of Cisco Systems by 2.5% in the 2nd quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock valued at $3,542,000 after acquiring an additional 2,726 shares during the last quarter. Holderness Investments Co. boosted its holdings in shares of Cisco Systems by 12.1% in the 1st quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock valued at $2,256,000 after acquiring an additional 7,186 shares during the last quarter. Finally, Pioneer Investment Management Inc. boosted its holdings in shares of Cisco Systems by 5.2% in the 1st quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock valued at $279,146,000 after acquiring an additional 408,875 shares during the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $33.95 on Tuesday. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.75. The firm has a market cap of $168,311.06, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 2.97 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. sell-side analysts expect that Cisco Systems, Inc. will post 2.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.42%. Cisco Systems’s payout ratio is currently 60.73%.
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Several analysts have recently commented on the stock. Stifel Nicolaus set a $34.00 price objective on shares of Cisco Systems and gave the company a “hold” rating in a report on Tuesday, August 15th. JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a report on Friday, August 18th. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.49 price objective on the stock in a report on Monday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a report on Tuesday, August 8th. Finally, BidaskClub raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $35.31.
In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the sale, the insider now owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Karen Walker sold 23,110 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $740,906.60. Following the sale, the senior vice president now directly owns 192,774 shares in the company, valued at approximately $6,180,334.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 485,138 shares of company stock worth $15,347,574. 0.05% of the stock is owned by corporate insiders.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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